Some Taxes Are Sure to Go Up

By

John D. McKinnon

Nov. 4, 2012 6:00 p.m. ET

The outcome of Tuesday's presidential election is still anyone's guess, but here's one good political bet: taxes on investment income are going up no matter who wins, at least for higher-income households.

Here's why. Government budget deficits are driving politicians in both parties to look for ways to raise revenue. And the tax breaks for capital gains, dividends and other types of investment income are an appealing place to start...